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- Traditional IRA: For as little as $50 you can open an IRA, and
contribute to your account in increments as little as $10. Traditional
IRAs are time deposit accounts that allow you to defer the payment
of taxes on earnings until distributed. Certain deposit contributions
may also be tax deductible in the tax year during which they're
made depending upon earned income and other existing retirement
accounts that you may have. A traditional IRA may be established
for any tax year you are under the age of 70 1/2 and have earned
income. The maximum annual deposit will vary based on age.
- Roth IRA: This program allows you to make non-deductible contributions to your retirement plan without the necessity of reporting the contributions on your income tax return. Also, contributions can be made to your Roth IRA after you have reached 70 1/2 provided you earned income. Although you cannot deduct your contributions to a Roth IRA, qualified distributions are tax-free. Unlike the Traditional IRA, you can leave amounts in your account as long as you live.
IRA calculator
Please see our Rates & Fees page for
specific interest rates.
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